News Corp. Grants Shareholder Vote On “Poison Pill”

Law360, New York (April 7, 2006, 12:00 AM EDT) -- Relenting in a dispute with its largest shareholders, News Corp. decided to allow investors to vote on its anti-takeover resolution just two weeks before the media and entertainment giant was set to go to court.

Under the settlement, News Corp. agreed to give shareholders the chance to vote at its next annual meeting in October on whether the anti-takeover provision, also known as a poison pill, should be extended for an additional two years.